Merchants Bank of Indiana


Overview / Commentary
317-569-7420
410 Monon Blvd.
Carmel, IN 46032

Merchants Bank of Indiana is headquartered in Carmel and is the 3rd largest bank in the state of Indiana. It is also the 161st largest bank in the nation. It was established in 1923 and as of June of 2020, it had grown to 325 employees at 6 locations. Merchants Bank of Indiana's money market rates are 2X the national average, and it has an A health rating.

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1% Money Market - 9/22/2020

I didn't see the money market account at Merchants Bank of Indiana (headquartered in Carmel, Indiana) listed. It is paying 1%; min. to deposit is $50, max. is 1 mil.

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Health

Health Grade Components

Overall
FDIC Certificate #8056
Year Established1923
Employees325
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.75%
Return on Equity - YTD20.44%
Annual Interest Income$124.7MM
Assets and Liabilities
AssetsQ2 2020vs Q2 2019$9.22B$5.11B
LoansQ2 2020vs Q2 2019$8.35B$4.14B
DepositsQ2 2020vs Q2 2019$6.73B$4.53B
Equity CapitalQ2 2020vs Q2 2019$689.3MM$519.7MM
Loan Loss AllowanceQ2 2020vs Q2 2019$19.9MM$12.2MM
Unbacked Noncurrent LoansQ2 2020vs Q2 2019$7.1MM$3.8MM
Real Estate OwnedQ2 2020vs Q2 2019$144.00K$0
Rates
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Merchants Bank of Indiana Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%-$1mMoney Market Account

Merchants Bank of Indiana CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.65%$1k-36 Month CD
0.60%$1k-30 Month CD
0.55%$1k-24 Month CD
0.50%$1k-18 Month CD
0.45%$1k-15 Month CD
0.40%$1k-9 Month CD
0.40%$1k-12 Month CD
0.35%$1k-1 Month CD
0.35%$1k-2 Month CD
0.35%$1k-3 Month CD
0.35%$1k-4 Month CD
0.35%$1k-6 Month CD
Locations


Merchants Bank of Indiana Locations
Indianapolis Bank Branch3737 East 96th StreetIndianapolis, IN 46240
Spartanburg Branch6880 South Arba PikeLynn, IN 47355
Merchants Bank Of Indiana410 Monon Blvd.Carmel, IN 46032
Merchants Bank Of Indiana Carmel Office Branch11590 North Meridian StreetCarmel, IN 46032
Lynn Branch7375 South Us Highway 27Lynn, IN 47355
Merchants Bank Of Indiana - The Rich701 E Main StRichmond, IN 47374

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